• Originally constructed under the 221(d)(4) program in 2007 as a substantial rehab project. In 2011, Centennial mortgage Refinanced the project under the 223(a)(7) program for $47,687,600.
  • The purpose of the loan was to reduce the interest rate from 5.75% to 4.45%, which then provided better cash flow for the project. This deal allowed HUD to reduce their risk while allowing the borrower to generate more income.
  • PE lofts is 314 Units.
  • Project Name PE Lofts
  • Project Location Refinance
  • Loan Amount Matthew Kane
  • Originator Los Angeles, CA
  • Year Built 2007
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